{"id":80269,"date":"2023-10-26T01:00:01","date_gmt":"2023-10-26T01:00:01","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=80269"},"modified":"2025-12-15T09:46:58","modified_gmt":"2025-12-15T09:46:58","slug":"neom-investment-fund-makes-its-first-two-investments-in-green-mobility","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/neom-investment-fund-makes-its-first-two-investments-in-green-mobility\/","title":{"rendered":"Neom Investment Fund makes its first two investments in green mobility"},"content":{"rendered":"<section id=\"80271\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80271\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/today-neom-investment-fund-makes-its-initial-investment-in-green-mobility\/\">\r\n                            TODAY: Neom Investment Fund makes its initial investment in green mobility                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/today-neom-investment-fund-makes-its-initial-investment-in-green-mobility\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Don\u2019t miss our deep dive into the world of quantum computing and what it means for our industry.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>Saudi Arabia\u2019s Neom is investing in US-based electric seaglider manufacturer Regent and US-based autonomous driving company Pony.ai to establish operations for both green vehicles in the smart city and Saudi-based Islamic Development Bank has partnered with the World Bank to help finance climate-centered water, energy, and food projects in the MENA region by 2026.<\/p>\n<p><strong>^^ We have the details on these stories and more in the news well, below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- No single story is dominating the headlines<\/strong>, but concern is growing over high interest rates derailing the ambitions of climate regulators and big auto to accelerate the shift to EVs, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/more-alarm-bells-sound-slowing-demand-electric-vehicles-2023-10-25\/\">Reuters<\/a> writes. While sales continue to grow, demand is not keeping up with the expectations of players who have invested USD bns in the sector, leaving companies to shift plans ahead of 2024. \"EV demand next year could be lower than expectations,\" CFO at South Korean battery maker LG Energy Solution Lee Chang-sil said. Honda and General Motors also said they were axing a USD 5 bn plan to develop lower-cost EVs together just one year after launching the effort.<\/p>\n<hr class=\"grey-line\">\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><\/strong><strong>WATCH<\/strong><strong> THIS SPACE #1- <\/strong><strong>Aramco will kick off SAF demo pilots by 2025:<\/strong> Saudi oil giant Aramco plans to bring online two SAF demonstration projects in KSA\u2019s Neom by 2025, <a href=\"https:\/\/rb.gy\/tuxc7\">Asharq Business<\/a> quotes the company\u2019s CTO Ahmad Al-Khowaiter as saying. The company plans to earmark \u201chundreds of mns of USD\u201d to build the plants, one of which will be developed in partnership with Spain\u2019s Repsol. Earlier this week, Aramco <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/710e58a5-3edd-4333-9409-1eb837613ad4\">signed a joint development agreement<\/a> (JDO) to establish a separate e-fuel demonstration plant with Enowa \u2014 Neom\u2019s energy and water utility subsidiary.<\/p>\n<p><strong>Aramco is going big on e-fuels and SAFs:<\/strong> Last year, Aramco and Repsol signed a partnership agreement to similarly establish an e-fuels demonstration plant in Spain that will initially have an 8k liter daily production capacity. The production demonstration of low-carbon synthetic diesel and jet fuel for automobiles and aircraft.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- <\/strong><strong>Investcorp Capital announces IPO on ADX: <\/strong>Bahrain-based alternative asset manager <a href=\"https:\/\/www.investcorp.com\/\">Investcorp<\/a> intends to proceed with an IPO of 643 mn shares \u2014 around 29% of its issued capital \u2014 at USD 0.50 a share on the Abu Dhabi Securities Exchange (ADX), <a href=\"https:\/\/wam.ae\/en\/details\/1395303213314\">Wam<\/a> reports. The company will issue 321.5 mn new shares and the selling shareholder, Investcorp S.A., will sell 321.5 mn shares. The subscription period, running from 2 to 9 November, will offer two tranches, and the listing is set for 17 November.<\/p>\n<p><strong>REMEMBER- <\/strong>Investcorp Co-CEO Rishi Kapoor told The National last June that the firm plans to have <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ded5136e-f43e-45b0-8e82-fd4fc5c4d250\">a new climate-focused investment platform up and running<\/a> before COP28 kicks off next month. The new investment vehicle will grab stakes in companies operating in various sectors including mobility, climate technology, carbon management, and energy transition and storage industries.<\/p>\n<hr class=\"grey-line\">\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><\/strong><strong>WATCH THIS SPACE #3- Will the UAE strike<\/strong><strong> a net-zero trade agreement with the Scots? <\/strong>Scottish Wellbeing Economy Secretary Neil Grey is heading to the UAE to explore the potential for an agreement between the two countries on renewables projects, according to <a href=\"https:\/\/www.thenationalnews.com\/world\/uk-news\/2023\/10\/24\/scottish-minister-heading-to-uae-to-secure-net-zero-trade-deal\/\">The National<\/a>. The conference will host representatives from 19 Scottish companies to boost the county's renewables potential. \u201cWe have the resources, skills, and ambition to advance green energy technologies and accelerate decarbonization,\u201d Gray said. \u201cContinuing to build trade and investment will play a vital role in helping Scotland build a greener, fairer well-being economy and all the benefits that will bring to families, communities and businesses across the country.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #4- Shell to trim staff at low carbon solutions unit:<\/strong> Oil giant Shell will axe 15% of its workforce at its Low Carbon Solutions (LCS) unit in 2024, <a href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/shell-cuts-low-carbon-jobs-scales-back-hydrogen-ceo-overhaul-sources-2023-10-25\/\">Reuters<\/a> reports. The move comes a week after CEO Wael Sawan said his company remains committed to zero emissions by 2050, but will <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e8c300b5-3a6a-4320-bbf7-69b9148902db\">change its approach<\/a> to achieving its planned carbon neutrality to go in line with its \u201cruthless\u201d focus on performance.<\/p>\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a>WATCH THIS SPACE #5- Apple accused of greenwashing over its latest \u201ccarbon-neutral\u201d <\/strong><strong>products: <\/strong>Apple is facing backlash from European environmental and consumer groups after the iPhone maker claimed its latest products are \u201ccarbon neutral,\u201d the <a href=\"https:\/\/www.ft.com\/content\/90392004-97e0-4444-a5cd-82220fe52510\">Financial Times<\/a> reports. Last month, Apple put its \u201cenvironmentally friendly\u201d credentials at the center of its <a href=\"https:\/\/www.ft.com\/content\/01d19702-9394-40c6-9451-388e3b34fc8b\">biggest annual product launch<\/a>, and called some Apple Watch models its \u201cfirst-ever carbon neutral products'\u201d by buying carbon credits to cancel out the 7 to 12 kg of greenhouse gas emissions behind each watch, and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9822c88d-307b-46f7-9288-d5afdf64d4c5\">replacing the leather in the watch band<\/a> with different materials with a \u201csignificantly lower\u201d carbon footprint. The tech giant said it is buying carbon credits from timber reforestation projects in Paraguay and Brazil.<\/p>\n<p><strong>Why is buying carbon credits not an effective net-zero claim? <\/strong>Climate campaigners have been questioning whether tracking carbon emissions provides a thorough environmental assessment of small electronic devices such as smartwatches and wireless earbuds, which are difficult to repair and end up as e-waste, FT writes. \u201cCarbon neutral claims are scientifically inaccurate and mislead consumers,\u201d Monique Goyens, the director-general of the European Consumer Organisation (BEUC) told the news outlet. In the days following the Watch launch, EU heads in Brussels said that it would ban \u201cneutrality\u201d claims that are based on the purchase of carbon credits by 2026.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published by 5am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong> <a href=\"http:\/\/www.enterprise.news\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, and The Weekend Edition on our powerful new website packed with reader-friendly features.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.cairowaterweek.eg\/cww2023\/\">Cairo Water Week<\/a><\/strong><strong> is taking place from Sunday, 29 October to Thursday, 2 November.<\/strong> This year\u2019s event will focus on global green developments in the water sector with sessions discussing the development of scientific solutions, practical tools, policies, and concrete measures to overcome today\u2019s water challenges. The five-day event is organized by Egypt\u2019s Water Resources and Irrigation Ministry, in partnership with the EU and FAO.<\/p>\n<p><strong>India will host the <\/strong><strong><a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1968881\">International Solar Alliance<\/a><\/strong><strong> from Monday, 30 October to Thursday, 2 <\/strong><strong>November<\/strong> in New Delhi. Some 96 member countries will participate and discuss mobilizing funds to accelerate solar deployments, the universalization of energy access through solar mini-grids, and diversifying manufacturing and supply chains for solar energy production.<\/p>\n<p><strong>The UAE will host the <\/strong><strong><a href=\"https:\/\/forbesmiddleeastevents.com\/sustainability-leaders-summit\/\">Forbes Middle East Sustainability Leaders Summit<\/a><\/strong><strong> from <\/strong><strong>Wednesday, 1 November to Saturday, 3 November <\/strong>in Abu Dhabi. The summit will gather international leaders in sustainability, technology, finance, and policy to drive green strategies globally. The agenda includes sessions on climate-smart cities, green mobility, sustainable finance, and sustainable tourism. The summit is expected to set the tone for international and regional dialogue and decision-making, including COP28 which will kick off in late November.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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id=\"80274\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80274\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/neom-investment-fund-makes-its-first-two-investments-in-us-based-electric-seaglider-maker-regent-and-autonomous-driving-company-pony-ai\/\">\r\n                            Neom Investment Fund makes its first two investments in US-based electric seaglider maker Regent and autonomous driving company Pony.ai                        <\/a>\r\n                    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US-based electric seaglider maker Regent and autonomous driving company Pony.ai&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/neom-investment-fund-makes-its-first-two-investments-in-us-based-electric-seaglider-maker-regent-and-autonomous-driving-company-pony-ai\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/neom-investment-fund-makes-its-first-two-investments-in-us-based-electric-seaglider-maker-regent-and-autonomous-driving-company-pony-ai\/&title=Neom Investment Fund makes its first two investments in US-based electric seaglider maker Regent and autonomous driving company Pony.ai\">\n                    LinkedIn                    <!-- <img 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/neom-investment-fund-makes-its-first-two-investments-in-us-based-electric-seaglider-maker-regent-and-autonomous-driving-company-pony-ai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1633.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80275\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/neom-investment-fund-makes-its-first-two-investments-in-us-based-electric-seaglider-maker-regent-and-autonomous-driving-company-pony-ai\/1633-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1633.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1633.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1633.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1633.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80274\" class=\"content-area-description single-story post-80274 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseclimate tag-green-mobility tag-investment-watch tag-neom tag-pony-ai tag-regent tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a>US green mobility sector the first target for Neom\u2019s newly launched investment fund:<\/strong> Saudi Arabia\u2019s Neom is investing in US-based electric seaglider manufacturer <a href=\"https:\/\/www.regentcraft.com\/company\">Regent<\/a> and US-based autonomous driving company <a href=\"https:\/\/pony.ai\/\">Pony.ai<\/a> to establish operations for both green vehicles in the smart city, according to two statements (<a href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-invests-in-regent-series\">here<\/a> and <a href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-investment-fund-invests-in-pony-ai\">here<\/a>). The investment is being made through the Neom Investment Fund (NIF) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/710e58a5-3edd-4333-9409-1eb837613ad4\">established earlier this week<\/a>.<\/p>\n<p><strong>First, the seaglider: <\/strong>The investment made by Neom is part of a multi-year partnership with Regent to establish electric seaglider passenger operations in the region, the statement notes. Regent will also establish a Middle East research, development, and training hub to support expansion in seaglider operations and infrastructure and conduct on-site testing to be ready for operational roll-out by 2025. The electric seaglider will be able to service routes up to 180 miles (290 kms) with existing battery technology, and routes up to 500 miles (805 kms) with next-gen batteries, all via existing dock infrastructure, according to their <a href=\"https:\/\/www.regentcraft.com\/company\">website<\/a>. Neom\u2019s undisclosed investment in Regent is the largest single contribution in the US company\u2019s latest Series A funding round.<\/p>\n<p><strong>Next, Pony.ai:<\/strong> Neom is investing USD 100 mn in Pony.ai in parallel with setting up a JV to develop, manufacture, and deliver autonomous driving services, advanced vehicles, and smart vehicle infrastructure in Neom and other key markets in the MENA region. The JV will also establish a local autonomous vehicle manufacturing and R&D facility, according to the statement. Pony.ai has developed a wide range of vehicles, from all-electric passenger Robotaxis to long-distance freight trucks, according to its <a href=\"https:\/\/pony.ai\/tech?lang=en\">website<\/a>.<\/p>\n<p><strong>Neom has been planting seeds to deliver its sustainable transport system: <\/strong>On Tuesday, Saudi oil giant Aramco and Enowa \u2014 Neom\u2019s energy and water utility subsidiary \u2014 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/710e58a5-3edd-4333-9409-1eb837613ad4\">signed a joint development agreement<\/a> to establish an e-fuel demonstration plant in Neom. Neom partnered with Oracle and NVIDIA in AI technology at LEAP23 <a href=\"https:\/\/www.arabianbusiness.com\/industries\/technology\/neom-announces-ai-technology-partners-at-leap23\">earlier this year<\/a> in efforts to incorporate AI and advanced robotics into its DNA, including promises of a <a href=\"https:\/\/www.neom.com\/en-us\/ourbusiness\/sectors\/mobility\">fully autonomous<\/a> transportation system for the smart city.<\/p>\n<p><strong>How can AI help the transport sector become cleaner? <\/strong>As electric and autonomous vehicle adoption increases, AI is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f5ed1b9-0994-4cbc-84f9-74c6f036e13b\">increasingly being used to monitor and predict<\/a> demand and usage of charging terminals, optimize battery usage, and improve safety and efficiency. Dubai\u2019s Roads and Transport Authority (RTA) for example is using AI to improve its public bus service by shortening journeys, reducing fuel consumption, and increasing bus ridership using data gathered from smart cards, buses, and taxis.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-mobility\/\">green mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pony-ai\/\">Pony.ai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/regent\/\">Regent<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80276\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80276\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/\">\r\n                            IsDB joins forces with World Bank to help finance climate-centered regional projects                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=IsDB joins forces with World Bank to help finance climate-centered regional projects&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/&title=IsDB joins forces with World Bank to help finance climate-centered regional projects\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=IsDB+joins+forces+with+World+Bank+to+help+finance+climate-centered+regional+projects+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F26%2Fisdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1635.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80277\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/isdb-joins-forces-with-world-bank-to-help-finance-climate-centered-regional-projects\/1635-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1635.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1635.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1635.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1635.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80276\" class=\"content-area-description single-story post-80276 post type-post status-publish format-standard has-post-thumbnail hentry category-green-finance tag-enterpriseclimate tag-green-finance tag-isdb tag-saudi-arabia tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a>IsDB and World Bank partner on green projects:<\/strong> Saudi-based Islamic Development Bank (IsDB) has partnered with the World Bank to help finance climate-centered water, energy, and food projects in the MENA region by 2026, according to a <a href=\"https:\/\/www.isdb.org\/news\/islamic-development-bank-and-world-bank-partnering-to-drive-impact\">statement<\/a>. The partnership aims to support joint operations that could rack up to USD 6 bn in financing through 2026, the statement notes. The World Bank\u2019s political-risk ins. arm <a href=\"https:\/\/www.miga.org\/\">Multilateral Investment Guarantee Agency<\/a> (Miga) will collaborate with the IsDB to mitigate political risk, while another World Bank member, the International Finance Corporation, will work with IsDB to draw in more private sector investment for the bank.<\/p>\n<p><strong>REMEMBER- Political risk is one of the highest barriers to climate-financing:<\/strong> Political (or country) risk was one of three factors that multilateral banks <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/361ded40-27a4-4883-acb4-2e84796f77a5\">have been urged to reassess and reduce<\/a> to incentivize developing countries to seek out affordable loans for climate-related projects. The other two risk barriers are exchange rate risk and off-take risks, which also add a premium to the cost of capital and create a high barrier to climate finance, making borrowing for climate projects more expensive.<\/p>\n<p><strong>IsDB is getting on board the energy transition train: <\/strong>IsDB <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4f2eddff-e69d-405b-82af-466107aca4c3\">signed a financing agreement<\/a> with the government of Tajikistan in August to improve water management for the country\u2019s agriculture sector, only a few months after it said it was earmarking <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fab6571f-8d32-4d2d-bfd0-9cde0bc3cd19\">USD 403 mn<\/a> for three sustainable energy and transport projects in Egypt, Kyrgyzstan, and Tajikistan. The bank issued a total of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0d16610b-f9ca-48b1-a472-3d5e0d787626\">USD 5.1 bn<\/a> between 2017 and the first half of 2022 in green and sustainable sukuks. The IsDB is committed to a climate finance target of 35% of total financial commitment by 2025, according to a <a href=\"https:\/\/ent.news\/2023\/10\/1634.pdf\">joint report (pdf)<\/a> by the world\u2019s biggest multilateral lenders.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/isdb\/\">IsDB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80278\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"80278\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/80278\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80278\" class=\"content-area-description single-story post-80278 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80279\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80279\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DECARBONIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/ksas-olayan-and-lanzatech-form-a-jv-to-expand-carbon-recycling-tech-offering\/\">\r\n                            KSA\u2019s Olayan and LanzaTech form a JV to expand carbon recycling tech offering                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/ksas-olayan-and-lanzatech-form-a-jv-to-expand-carbon-recycling-tech-offering\/\" target=\"_blank\">\n   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<div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80280\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/ksas-olayan-and-lanzatech-form-a-jv-to-expand-carbon-recycling-tech-offering\/1590-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1590.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80279\" class=\"content-area-description single-story post-80279 post type-post status-publish format-standard has-post-thumbnail hentry category-decarbonization tag-carbon-offsetting tag-decarbonization tag-enterpriseclimate tag-lanzatech tag-saudi-arabia tag-sustainable-aviation-fuels tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><\/strong><strong>KSA\u2019s Olayan partners up with USA\u2019s Lanzatech on carbon recycling:<\/strong> Saudi Arabian investment firm Olayan Financing Company and US-based carbon recycling company LanzaTech have formed a JV to expand deployment of the latter\u2019s carbon repurposing tech in KSA, according to a <a href=\"https:\/\/lanzatech.com\/lanzatech-forms-joint-venture-with-olayan-financing-company-to-deploy-carbon-recycling-technology-in-saudi-arabia\/\">statement<\/a>.<\/p>\n<p><strong>The tech:<\/strong> LanzaTech's carbon capture and utilization technology uses microbial gas fermentation, a process through which CO2 and carbon dioxide are fused with hydrogen via microorganisms to produce low-carbon fuels like SAF, the company <a href=\"https:\/\/www.basf.com\/global\/en\/who-we-are\/organization\/group-companies\/BASF_Venture-Capital\/portfolio\/LanzaTech-Inc.html#:~:text=LanzaTech's%2520unique%2520microbial%2520gas%2520fermentation,plastics%252C%2520synthetic%2520fibers%2520and%2520fuels.\">notes<\/a>. Back in 2018, the company operated in partnership with Virgin Atlantic on its first SAF-powered commercial flight using syngas produced from steel mill emissions.<\/p>\n<p><strong>The JV\u2019s mission: <\/strong>The newly formed JV will deploy LanzaTech\u2019s proprietary technology to repurpose industrial gasses as well as solid waste feedstocks from hard-to-abate sectors in KSA as well as undisclosed select markets across MENA, the statement notes. The JV will also look to develop projects that are fully integrated with its patented Alcohol-to-Jet process in a bid to generate SAFs.<\/p>\n<p><strong>Not the company\u2019s first entry into the MENA market:<\/strong> Back in February, LanzaTech <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c345be50-12e8-48bf-bc97-7a47cec0c4cf\">signed an MoU<\/a> with Tadweer in February to explore the possibility of establishing a waste to sustainable aviation fuels conversion plant. The planned conversion facility could also see carbon waste used to produce fabric materials and other applications.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lanzatech\/\">LanzaTech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80281\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80281\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN TECH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/the-energy-transition-could-use-a-push-from-the-next-big-tech-revolution-quantum-computing\/\">\r\n                            The energy transition could use a push from the next big tech revolution: Quantum Computing                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/the-energy-transition-could-use-a-push-from-the-next-big-tech-revolution-quantum-computing\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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A report by <a href=\"https:\/\/www.mckinsey.com\/capabilities\/mckinsey-digital\/our-insights\/quantum-computing-just-might-save-the-planet\">Mckinsey Digital<\/a> identified a long list of quantum-computing applications which could eliminate over 7 gigatons of CO2 equivalent from the atmosphere a year by 2035 if implemented. Quantum computers could also make the operation of multiple conventional supercomputers <a href=\"https:\/\/www.pwc.de\/en\/digitale-transformation\/quantum-computing\/quantum-computing-as-a-driver-of-esg-initiatives.html\">obsolete in some cases<\/a> resulting in a smaller CO2 footprint.<\/p>\n<p><strong>SOUNDSMART- How does quantum computing solve complex statistical problems? <\/strong>While digital computers have been making it easier for us to process information for decades, quantum computers are poised to take computing to \u201ca whole new level,\u201d <a href=\"https:\/\/www.mckinsey.com\/featured-insights\/mckinsey-explainers\/what-is-quantum-computing\">McKinzey<\/a> explains. Unlike the technology that powers laptops and smartphones, which is built on bits \u2014 a unit of information that can store either a zero or a one \u2014 quantum computing is built on quantum bits, or qubits, which can store both zeros and ones simultaneously. In other words, classical computers solve a problem with multiple variables by conducting a new calculation every time a variable changes, while quantum computers can explore a massive number of paths simultaneously, making them much faster.<\/p>\n<p><strong>KSA is making moves to explore the new technology:<\/strong> Aramco-backed Wa\u2019ed Ventures invested in a USD 108 mn Series B for French quantum computing startup Pasqal <a href=\"https:\/\/www.wamda.com\/2023\/01\/waed-invests-pasqals-108-million-series-b\">in January<\/a>. Pasqal said it will use the funding to further develop its quantum computing platform, which it believes will deliver major commercial advantages over classical computers by 2024, as well as expand the development of proprietary algorithms \u2014 algorithms that solve specific problems that translate into actions \u2014 for customers across key sectors including energy, automotive, mobility, enterprise technology, and finance. A couple of months after Wa\u2019ed\u2019s investment, Aramco <a href=\"https:\/\/www.pasqal.com\/articles\/pasqal-and-aramco-collaborate-to-develop-quantum-computing-applications-for-the-energy-industry\">signed an MoU<\/a> with Pasqal to collaborate on accelerating the design and development of quantum based machine learning models for the energy sector. The French company said it aims to establish operations in the Middle East and grow its business in Saudi Arabia.<\/p>\n<p><strong>Optimizing energy consumption: <\/strong>Through a set of partnerships, Pasqal has set out to solve issues in vehicle charging, battery development, hydrogen-powered vehicles, and grid management. With France\u2019s utility giant EDF, Pascal formulated a statistical model to address the problem of <a href=\"https:\/\/www.pasqal.com\/industry\/energy\/vehicule-charging\">minimizing peak demand<\/a> and stabilizing the grid \u2014 which is getting increasingly difficult as renewables that are intermittent in nature are added onto the grid. Optimizing energy demand and supply through the model can also help integrate the growing demand for electric mobility more smoothly. In collaboration with the European Innovation Council, Pascal used quantum computing to build simulations that can test <a href=\"https:\/\/www.pasqal.com\/industry\/energy\/baterry-modelling\">electric battery<\/a> and <a href=\"https:\/\/www.pasqal.com\/industry\/energy\/hydrogen-fuel-cells\">hydrogen fuel cell<\/a> durability, safety, and affordability, removing the need for laboratory experiments. With France\u2019s RTE company, Pascal also used quantum to <a href=\"https:\/\/www.pasqal.com\/industry\/energy\/grid-management\">model electricity grids<\/a> to identify parts of the grid that have similar \u201coperating modes,\u201d and can serve as a basis for aggregating grid information or reducing the optimization processes.<\/p>\n<p><strong>More pathways to help tackle climate change in MENA: <\/strong>\u201cWater desalination can benefit from quantum simulation since catalysts play an increasingly prominent role in emerging new methods,\u201d professor of mathematics at NYUAD Hisham Sati told <a href=\"https:\/\/fastcompanyme.com\/green-goals\/can-quantum-computing-lead-the-next-sustainability-revolution-in-the-middle-east\/\">Fast Company Middle East<\/a>. \u201cAnother example is the development of new catalysts to make CO2 conversion into hydrocarbons more efficient and selective, which is a key part of climate change mitigation strategies,\u201d head of Science & Technology and lead of IBM Research Quantum Europe Heike Riel said. Trade routes are optimized with the help of quantum computing bringing down these emissions and help solve the maritime pollution problem, he added.<\/p>\n<p><strong>UAE looking into quantum computing to stay ahead of the curve: <\/strong>The Abu Dhabi\u2019s <a href=\"https:\/\/www.tii.ae\/\">Technology Innovation Institute<\/a> (TII) announced a research agreement with <a href=\"https:\/\/aws.amazon.com\/energy\/?nc2=h_ql_sol_ind_og\">Amazon Web Services<\/a> (AWS) <a href=\"https:\/\/www.tii.ae\/news\/technology-innovation-institute-and-aws-explore-quantum-computing-applications-amazon-braket\">in May<\/a> to explore quantum computing applications. As part of the agreement, TII will gain access to a range of quantum computing technologies via AWS\u2019 managed quantum computing service Amazon Braket, which has worked with renewables giants such as Spain\u2019s <a href=\"https:\/\/aws.amazon.com\/solutions\/case-studies\/innovators\/engie\/\">Iberdrola<\/a>, France\u2019s <a href=\"https:\/\/aws.amazon.com\/solutions\/case-studies\/innovators\/engie\/\">Engie<\/a>, and the US\u2019 <a href=\"https:\/\/aws.amazon.com\/solutions\/case-studies\/baker-hughes-case-study\/\">Baker Hughes<\/a> to build a platform that reduces clients\u2019 energy consumption. In 2018, Dewa <a href=\"https:\/\/news.microsoft.com\/2018\/06\/28\/microsoft-and-dewa-bringing-quantum-computing-to-dubai\/\">began working with Microsoft<\/a> to develop quantum-based solutions to address energy optimization, making It the first organization outside the US to participate in Microsoft\u2019s Quantum program.<\/p>\n<p><strong>The region needs to stay on top of the game to avoid getting left behind:<\/strong> Other challenges to introducing quantum computing applications relate to the relative speed with which the MENA region economies will be able to exploit the new technology given that it will take time to grasp, shape, and formulate strategies for quantum computing, according to another <a href=\"https:\/\/ent.news\/2023\/10\/1636.pdf\">PwC report (pdf)<\/a>. The report warns that the Middle East may \u201cstruggle to maintain or gain ground if it cannot match other parts of the world for analytics immediacy and precision.\u201d The Gulf region should emulate the National Quantum Initiative Act in the US, which has already allocated USD 1.3 bn to train quantum engineers to build a quantum computing workforce, PwC Middle East partner Simnone Vernacchia told <a href=\"https:\/\/fastcompanyme.com\/green-goals\/can-quantum-computing-lead-the-next-sustainability-revolution-in-the-middle-east\/\">ComputerWeekly<\/a>, adding that a viable quantum computing industry will only be possible in the GCC with a very significant investment in training future quantum engineers.\u201d<\/p>\n<p><strong>And there are some obstacles: <\/strong>Unlike conventional supercomputers which release a lot of heat, quantum computers have an operating temperature of -273\u00b0C, meaning that it will operate at its peak energy-efficiency at that temperature, <a href=\"https:\/\/www.pwc.de\/en\/digitale-transformation\/quantum-computing\/quantum-computing-as-a-driver-of-esg-initiatives.html\">PwC<\/a> explains. As a result, major steps in the commercialization of quantum computers are expected to come in parallel with finding cost-effective and energy-efficient ways to cool the super systems. Preparing cyber strategies for quantum computers will also be one of the top priorities before it can be commercialized, PwC emphasizes in its report, adding that a 2016 regional survey for security exposure and protection found the Middle East to be at higher risk of attack than other regions.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-tech\/\">green tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/quantum-computing\/\">quantum computing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80283\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80283\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/egypt-belgium-explore-energy-export-cced-and-aggreko-work-on-cutting-emissions-and-uaes-ega-to-build-an-aluminum-recycling-plant\/\">\r\n                            Egypt + Belgium explore energy export, CCED and Aggreko work on cutting emissions, and UAE\u2019s EGA to build an aluminum recycling plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/egypt-belgium-explore-energy-export-cced-and-aggreko-work-on-cutting-emissions-and-uaes-ega-to-build-an-aluminum-recycling-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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No further details on the agreement were disclosed.<\/p>\n<p><strong>This has been in the works: <\/strong>Egyptian Electricity Minister Mohamed Shaker met with Belgian company Jan De Nul\u2019s Managing Director Jan Pieter De Nul <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d54f3d8f-a25b-4320-9283-8a70b43b9e9d\">in May<\/a> to discuss expanding cooperation in Egypt\u2019s renewable energy sector.<\/p>\n<p><strong>RECYCLING-<\/strong><\/p>\n<p><strong>EGA will build an aluminum recycling factory:<\/strong> UAE\u2019s aluminum manufacturer Emirates Global Aluminium (EGA) is working on setting up the country\u2019s first aluminum recycling factory, <a href=\"https:\/\/wam.ae\/en\/details\/1395303213528\">Wam<\/a> reports. EGA is trying to reduce energy consumption as demand is expected to <a href=\"https:\/\/international-aluminium.org\/post-consumer-aluminium-scrap-tops-20-million-tonnes-for-the-first-time\/\">increase by 50 to 80%<\/a> by 2050. Recycled aluminum consumes up to 95% less energy than new metal production.<\/p>\n<p><strong>EGA\u2019s green portfolio:<\/strong> EGA launched a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4bab9c2d-56fe-4848-8179-cba3d4b4f02d\">supply chain finance (SCF)<\/a> program with Emirates NBD earlier this month to help aluminum producers green their UAE operations. It also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/00a882d3-82a0-414c-945f-6a0da7cb004a\">partnered with BP<\/a> in May to explore cutting emissions from the company\u2019s calcined petroleum coke (CPC) supply chain. It was also the first in the UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2b8f7dd-4ea3-42b3-8a4c-aa240878a4e1\">join the First Movers Coalition<\/a> by committing to sourcing the materials it needs for aluminum production from low-carbon sources.<\/p>\n<p><strong>EMISSIONS-<\/strong><\/p>\n<p><strong>CCED and Aggreko collaborate to cut emissions:<\/strong> <a href=\"https:\/\/www.cced.com.om\/\">CC Energy Development (CCED)<\/a> launched an initiative with energy solutions provider <a href=\"https:\/\/www.aggreko.com\/en-us\">Aggreko<\/a>to reduce greenhouse gas emissions by 30% in CCED's operations in Oman, according to a <a href=\"https:\/\/www.linkedin.com\/posts\/cced_cced-oman-activity-7122550610645663745-Ka8d?utm_source=share&utm_medium=member_desktop\">statement<\/a> released earlier this week. The initiative will see CCED establish a flare gas-to-power project within its operations and work towards eliminating gas flaring by 2027. The oil and gas operator will also replace diesel with unused associated gas, which is a crude oil production byproduct, to generate electricity to power the company's operations.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emirates-global-aluminum\/\">Emirates Global Aluminum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-industry\/\">green industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80285\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80285\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\">\r\n                            Australia doubles its mining investments to support renewables expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Australia doubles its mining investments to support renewables expansion&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/&title=Australia doubles its mining investments to support renewables expansion\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Australia+doubles+its+mining+investments+to+support+renewables+expansion+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F26%2Faustralia-doubles-its-mining-investments-to-support-renewables-expansion%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1638.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80286\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/1638-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1638.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1638.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1638.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1638.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80285\" class=\"content-area-description single-story post-80285 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-australia tag-enterpriseclimate tag-mining wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Australia announces AUD 2 bn expansion in mining: <\/strong>Australia\u2019s Prime Minister Anthony Albanese said his country will channel an additional AUD 2 bn (USD 1.3 bn) toward investments for its mining sector in a bid to secure rare earths needed for its transition to green energy and sustainable mobility, according to a <a href=\"https:\/\/www.pm.gov.au\/media\/2-billion-critical-minerals-boost-crucial-energy-transition\">statement<\/a>. The new financing program \u2014 disbursed in the form of low-interest loans for miners and processors of critical minerals \u2014 is aimed at attracting US-based mining firms to tap into the country\u2019s \u201cvast\u201d mineral deposits, and would help minimize dependency on China in the green energy transition, <a href=\"https:\/\/www.abc.net.au\/news\/2023-10-25\/anthony-albanese-washington-dc-critical-minerals-funding\/103017910\">ABC<\/a> notes.<\/p>\n<p><strong>Taking on China:<\/strong> China <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/30510af0-1c53-4643-bf9f-0460dc712e29\">now processes<\/a> more than 70% of the world\u2019s graphite, and refines more than 90% of the mineral into the material used in EV battery anodes. Along with graphite, China processes more than half the world\u2019s lithium, about two-thirds of its cobalt, and about one-third of the global supply of nickel, and has begun <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2c3501bf-7638-42d0-b1a7-abab38c7bab1\">enforcing export restrictions<\/a> on rare earths including graphite. The US began talks with the EU on a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6479cae-8088-4aa8-92dd-8f4d017ec88d\">transatlantic bargain<\/a> on minerals back in March in a bid to counter Chinese dominance in the mining and EV sectors.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>New York is getting some offshore wind action:<\/strong> New York awarded contracts for three offshore wind farms as it shoots for its target of generating <a href=\"https:\/\/www.governor.ny.gov\/news\/governor-hochul-announces-nations-largest-ever-state-investment-renewable-energy-moving#:~:text=A%20cornerstone%20of%20this%20transition,%241%20billion%20for%20clean%20transportation\">9 GW<\/a> of wind power by 2035. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-24\/new-york-awards-contracts-for-three-offshore-wind-projects?srnd=green#xj4y7vzkg\">Bloomberg<\/a>)<\/li>\n<li><strong>Ireland can start SAF production <\/strong><strong>by the end of the decade:<\/strong> Ireland will be able to produce sustainable aviation fuel (SAF) using offshore wind power from 2030 and has the most likely chance to produce synthetic e-fuels or eSAFs, made with captured carbon and green hydrogen. (<a href=\"https:\/\/www.reuters.com\/sustainability\/cop\/ireland-could-start-producing-sustainable-jet-fuel-2030-study-2023-10-25\/#:~:text=Ireland%20could%20start%20producing%20sustainable%20jet%20fuel%20from%202030%20%2D%20study,-By%20Padraic%20Halpin&text=DUBLIN%2C%20Oct%2025%20(Reuters),a%20study%20showed%20on%20Wednesday.\">Reuters<\/a>)<\/li>\n<li><strong>Brazil\u2019s food sector contributes three-quarters of its emissions: <\/strong>74% of the total greenhouse gas output of Brazil in 2021 was attributable to its food production sector. Of the 1.8 bn tons of CO2 emitted that year, 78% were attributable to the beef production industry. Brazil is the world\u2019s <a href=\"https:\/\/www.embrapa.br\/en\/busca-de-noticias\/-\/noticia\/62619259\/brazil-is-the-worlds-fourth-largest-grain-producer-and-top-beef-exporter-study-shows\">top exporter<\/a> of beef and the fourth largest grain supplier. (<a href=\"https:\/\/www.reuters.com\/sustainability\/cop\/brazil-food-sector-accounts-74-emissions-study-2023-10-24\/\">Reuters<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80287\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"80287\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/the-manufacturing-industry-stands-to-save-usd-bns-with-simple-energy-efficiency-measures\/\">\r\n                            The manufacturing industry stands to save USD bns with simple energy efficiency measures                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/the-manufacturing-industry-stands-to-save-usd-bns-with-simple-energy-efficiency-measures\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/468.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80288\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/the-manufacturing-industry-stands-to-save-usd-bns-with-simple-energy-efficiency-measures\/468-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80287\" class=\"content-area-description single-story post-80287 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-carbon-offsetting tag-climate-in-the-news tag-enterpriseclimate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The manufacturing industry can save USD bns through energy efficiency: <\/strong>Global industry players across various manufacturing sectors can offset an estimated four mn metric tons of greenhouse gas emissions annually \u2014 <a href=\"https:\/\/www.energymonitor.ai\/energy-efficiency\/double-energy-efficiency-by-2030-to-keep-on-track-for-net-zero-iea\/#:~:text=Ramping%20up%20annual%20energy%20efficiency,says%20the%20International%20Energy%20Agency.\">almost a third<\/a> of current global CO2 output \u2014 and save as much as USD 437 bn yearly by 2030 if they implement 10 simple energy efficiency measures, <a href=\"https:\/\/www.reuters.com\/sustainability\/industry-could-save-437-bln-year-via-energy-efficiency-efforts-2023-10-24\/\">Reuters<\/a> writes, citing to a <a href=\"https:\/\/report.energyefficiencymovement.com\/guide\/?utm_source=eem_website&utm_medium=referral&utm_campaign=industrial_efficiency_2023&utm_content=lp_view_report\">report<\/a> by the Energy Efficiency Movement. Suggested measures in the report include efficient power audits, the incorporation of low-carbon production techniques for hard-to-abate sectors, adequate infrastructure connecting industrial plants and machines, and a thorough analysis of targeted industrial assets. The measures translate to 1.5 mn metric tons of carbon savings by 2024, two mn metric tons by 2025, and four mn metric tons by the end of the decade. The doubling down on energy efficiency measures spotlighted by EEM would be equivalent to taking 60% of combustion engine vehicles off roads, the report notes.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>A <\/strong><strong>smashing new industry for old solar panels: <\/strong>A US startup is processing and recycling up to 7.5k solar panels a day by smashing and extracting bits of silver, copper, and aluminum. The market for recycled material can reach <a href=\"https:\/\/www.rystadenergy.com\/news\/reduce-reuse-solar-pv-recycling-market-to-be-worth-2-7-billion-by-2030\">USD 2.7 bn by 2030<\/a> and USD 80 bn by 2050. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-24\/yes-solar-panels-can-be-recycled?srnd=green-cleaner-tech&leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80289\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/80289\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80289\" class=\"content-area-description single-story post-80289 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>24-26 October (Tuesday-Saturday): <a href=\"https:\/\/fii-institute.org\/conference\/fii7\/\">Future Investment Initiative<\/a>, Riyadh, KSA.<\/p>\n<p>25-26 October (Friday-Saturday): <a href=\"https:\/\/events.reutersevents.com\/renewable-energy\/offshore-floating-wind-europe\">Offshore & Floating Wind Europe 2023<\/a>, London, United Kingdom.<\/p>\n<p>25-27 October (Wednesday - Friday): <a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/16739922-energy-challenges\">International Fair of Energy Transition<\/a>, Tunis, Tunisia.<\/p>\n<p>29 October-2 November (Sunday-Thursday): <a href=\"https:\/\/bit.ly\/40YIn6F\">Cairo Water Week<\/a>, Cairo, Egypt<\/p>\n<p>29 -31 October (Sunday-Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy Conference<\/a>, Egypt International Exhibition Centre, Cairo, Egypt.<\/p>\n<p>30 October - 2 November (Monday-Thursday): <a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1968881\">International Solar Alliance Assembly<\/a>, New Delhi, India.<\/p>\n<p>30 October - 1 November (Monday-Wednesday) <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=704453251719392&set=a.356736726491048\">ISWA 2023 World Congress:<\/a> Global action towards a net-zero future, Muscat, Oman.<\/p>\n<p>31 October-2 November (Tuesday-Thursday): <a href=\"https:\/\/energytransitions.live.ft.com\/\">Financial Times\u2019 Energy Transition Summit<\/a>, London, UK.<\/p>\n<p>31 October-2 November (Tuesday-Thursday): <a href=\"https:\/\/www.worldhydropowercongress.org\/\">World Hydropower Congress<\/a>, Bali, Indonesia.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>1-3 November (Wednesday-Friday): <a href=\"https:\/\/forbesmiddleeastevents.com\/sustainability-leaders-summit\/\">Forbes Middle East Sustainability Leaders Summit 2023<\/a>, Abu Dhabi, UAE.<\/p>\n<p>7-8 November (Tuesday-Wednesday): <a href=\"https:\/\/wam.ae\/en\/details\/1395303196450\">ADIA Lab Symposium on Climate Change and Health Sciences<\/a>, Abu Dhabi, UAE.<\/p>\n<p>7-8 November (Tuesday-Wednesday): <a href=\"https:\/\/us-algeria-energy-and-investment.org\/\">The 2023 US Algeria Energy Forum<\/a>, Washington DC, USA.<\/p>\n<p>9-10 November (Thursday-Friday): <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/Mar\/IRENA-To-Hold-First-Latin-American-Investment-Forum-in-Uruguay\">International Renewable Energy Agency Investment Forum<\/a>, Uruguay.<\/p>\n<p>9-15 November (Thursday-Wednesday): <a href=\"https:\/\/www.intrafricantradefair.com\/\">Intra-African Trade Fair 2023<\/a>, Cairo, Egypt.<\/p>\n<p>11-13 November (Saturday-Monday): <a href=\"https:\/\/gcc-turkiye.net\/\">GCC-T&uuml;rkiye Economic Forum<\/a>, Istanbul, Turkey.<\/p>\n<p>15-17 November (Wednesday-Friday): <a href=\"https:\/\/www.wetex.ae\/\">WETEX and Dubai Solar Show,<\/a> Dubai, UAE.<\/p>\n<p>15-18 November (Wednesday-Saturday): DEWA\u2019s <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/May\/07-05\/DEWA-MENA-Solar-Conference\">First MENA Solar Conference<\/a>, Dubai, UAE.<\/p>\n<p>20-24 November (Monday-Friday) I<a href=\"https:\/\/wam.ae\/en\/details\/1395303172305\">nternational Civil Aviation Organisation\u2019s Aviation and Alternative Fuels conference<\/a>, Dubai, UAE.<\/p>\n<p>27-30 November (Monday-Thursday) <a href=\"https:\/\/twitter.com\/ADGlobalMarket\/status\/1672228350046224384\">Abu Dhabi Finance Week (ADFW)<\/a>, Abu Dhabi, UAE.<\/p>\n<p>28-29 November (Tuesday-Wednesday): <a href=\"https:\/\/wges.ae\/\">World Green Economy Summit (WGES)<\/a>, Dubai, UAE.<\/p>\n<p>30 November - 12 December (Thursday-Tuesday): <a href=\"https:\/\/unfccc.int\/\">Conference of the Parties (COP 28)<\/a>, Dubai, UAE.<\/p>\n<p><strong>DECEMBER 2023<\/strong><\/p>\n<p>4 December (Monday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/news-and-announcements\/third-edition-of-saudi-green-initiative-forum-to-take-place-during-cop28\/\">Saudi Green Initiative Forum<\/a>, Dubai, UAE.<\/p>\n<p>4 December (Monday): <a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/Media\/News\/ADSW-to-Host-Special-Edition-at-COP28\">Abu Dhabi Sustainability Week (ADSW) summit<\/a>, Dubai, UAE.<\/p>\n<p>4-7 December (Monday-Thursday): <a href=\"https:\/\/wam.ae\/en\/details\/1395303210320\">International Conference on Global Warming<\/a>, Ras Al Khaimah, UAE.<\/p>\n<p>6-7 December (Wednesday-Thursday): <a href=\"https:\/\/events.reutersevents.com\/energy-transition\/energy-mena?gad=1&gclid=CjwKCAjwp8OpBhAFEiwAG7NaEkLySAaI28xtTFfTJpxpdId4Xty5U8JBg8CGmDkjoI7AEv9U5WtmQBoCxdcQAvD_BwE\">Reuters\u2019 Energy Transition MENA conference<\/a>, Dubai, UAE.<\/p>\n<p>8 December (Friday): <a href=\"https:\/\/masdar.ae\/Strategic-Platforms\/Youth-4-Sustainability\/Youth-4-Sustainability-Hub\">Youth for Sustainability Forum (Y4S)<\/a>, Dubai, UAE.<\/p>\n<p>12-14 December (Tuesday-Thursday): <a href=\"https:\/\/www.facebook.com\/ghseoman\/\">Green Hydrogen Summit Oman<\/a>, Oman Convention and Exhibition Center, Muscat, Oman.<\/p>\n<p>18-20 December (Monday-Wednesday): <a href=\"https:\/\/saudi-sg.com\/en\/\">Saudi Arabia Smart Grid Conference<\/a>, Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.<\/p>\n<p><strong>JANUARY 2024<\/strong><\/p>\n<p>9-11 January (Tuesday-Thursday): <a href=\"https:\/\/www.futuremineralsforum.com\/\">Future Minerals Forum<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p><strong>FEBRUARY 2024<\/strong><\/p>\n<p>26-28 February (Monday-Wednesday): <a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\">Management and Sustainability of Water Resources<\/a>, Dubai, UAE.<\/p>\n<p><strong>MARCH 2024<\/strong><\/p>\n<p>4-6 March (Monday-Wednesday): <a href=\"https:\/\/dust.ncm.gov.sa\/register\/\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p><strong>APRIL 2024<\/strong><\/p>\n<p>16-18 April (Tuesday-Thursday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/\">World Future Energy Summit<\/a>, Abu Dhabi, UAE.<\/p>\n<p>23-25 April (Tuesday-Thursday): <a href=\"https:\/\/www.mena.gh2events.com\/\">Connecting Green Hydrogen MENA<\/a>, Dubai, UAE.<\/p>\n<p><strong>MAY 2024<\/strong><\/p>\n<p>19-21 May (Sunday-Tuesday): <a href=\"https:\/\/www.saudienergyconvention.com\/\">Saudi Energy Convention<\/a>, Riyadh, KSA.<\/p>\n<p><strong>JUNE 2024<\/strong><\/p>\n<p>5 June (Wednesday): <a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\">World Environment Day<\/a>, Saudi Arabia.<\/p>\n<p><strong>OCTOBER 2024<\/strong><\/p>\n<p>10-12 October (Tuesday-Thursday): <a href=\"https:\/\/aemobforum.com\/\">Autonomous E-Mobility Forum<\/a>, Doha, Qatar.<\/p>\n<p><strong>DECEMBER 2024<\/strong><\/p>\n<p>2-13 December (Monday-Friday): <a href=\"https:\/\/www.unccd.int\/news-stories\/notifications\/sixteenth-session-unccd-conference-parties-cop-16-riyadh\">Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification<\/a>, Riyadh, KSA.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>2023 <\/strong><\/p>\n<p>Mid-2023: Oman <a href=\"https:\/\/www.meed.com\/oman-to-sign-multibillion-dollar-hydrogen-contracts\">set to sign contracts<\/a> for green hydrogen projects.<\/p>\n<p>Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dbe558b6-6166-404f-8aa3-2bd7b56647dd\">to close<\/a>.<\/p>\n<p>Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2f525f9-dc10-477e-a2d5-67e7d6d790c2\">be completed<\/a>.<\/p>\n<p>Saudi Basic Industries Corporation (<a href=\"https:\/\/www.sabic.com\/en\">Sabic<\/a>) steam cracker furnace powered by renewable energy to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c6bbb030-2107-4aec-bc3c-9dfbe4d55975\">come online<\/a>.<\/p>\n<p><strong>2024 <\/strong><\/p>\n<p>12-14 February (Monday-Wednesday): <a href=\"https:\/\/www.safcongressmena.com\/\">Sustainable Aviation Futures MENA Congress<\/a>, Dubai, UAE.<\/p>\n<p>End-2024: Emirati <a href=\"http:\/\/ar.ae\">Masdar<\/a>\u2019s 500 MW wind farm in Uzbekistan to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\">begin commercial operations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s industrial cities solar power project <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">will start electricity<\/a> production.<\/p>\n<p><strong>2025 <\/strong><\/p>\n<p><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\">International Union for Conservation of Nature World Conservation Congress<\/a>, Abu Dhabi, UAE.<\/p>\n<p>UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\">have over 1k<\/a> EV charging stations installed.<\/p>\n<p><strong>2026 <\/strong><\/p>\n<p><a href=\"https:\/\/uitpsummit.org\/\">UITP Global Public Transport Summit<\/a>, Dubai, UAE.<\/p>\n<p>1Q 2026: <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s USD 1 bn blue ammonia plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">to be completed<\/a>.<\/p>\n<p>End-2026: HSBC Bahrain to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\">eliminate single-use<\/a> PVC plastic cards.<\/p>\n<p><strong>2027<\/strong><\/p>\n<p>MENA\u2019s district cooling market is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\">expected to reach<\/a> USD 15 bn.<\/p>\n<p><strong>2030 <\/strong><\/p>\n<p>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">provide AED 35 bn<\/a> in green financing.<\/p>\n<p>UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">targets 14 GW<\/a> in clean energy capacity.<\/p>\n<p>Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">targets 30%<\/a> of renewables in its energy mix.<\/p>\n<p>Qatar wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\">generate USD 17 bn<\/a> from its circular economy, creating 9k-19k jobs.<\/p>\n<p>Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">generate 10.5 GW<\/a> of energy.<\/p>\n<p><strong>2035 <\/strong><\/p>\n<p>Qatar to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">capture up to 11 mn tons<\/a> of CO2 annually.<\/p>\n<p><strong>2045 <\/strong><\/p>\n<p>Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity.<\/p>\n<p><strong>2050<\/strong><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\">Tunisia\u2019s carbon neutrality target<\/a>.<\/p>\n<p><strong>2060 <\/strong><\/p>\n<p>Nigeria aims to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">achieve its net-zero<\/a> emissions target.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":80270,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-80269","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"32504d62-30e1-479a-b9f9-8070e5fd900f","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/110.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Neom Investment Fund makes its first two investments in green mobility - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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